Why is Everything Failing Apart? - Questions on UK economy

Questions in Video

0:00 Why is everything failing apart?
5:03 Is it time to move to other countries?
6:33 What is the comparison of UK and Australia economies?
9:09 Can we protect ourselves from the never-ending economic disaster?
10:07 Should the UK government worry about its credit rating?
10:26 When should you worry about your debt to GDP level?
12:45 What would happen if the U.K. paid off the national debt?
15:26 How can economy do more to support wellbeing and environmental sustainability?

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[theTeslaking]

This does not only occur in Europe. The difficulties that the current generation faces are quite depressing. I wanted to know how to use some money that I had. I used a small portion of it for online sales, but that failed. Though I'm not sure which direction to take, I'm considering how to use the remaining funds for investments.

[Riggsnic_co]

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[bigvinny]

Born in 63 in the UK and all i have ever experienced/witnessed is managed industrial, economic and social decline !

[salkoharper]

I work like a dog every day, at the end of the month, I watch 50% of my paycheck go to my landlord. Do you know what she does with that money? Spends her days sailing round the Mediterranean. The irony is, most of the rich don't give 2 shits about England, they just take the money and run. Me? Well I love England, yet England's system is destroying me and enabling her parasitic existence. When a nation destroys its youth to enrich a parasitic elite. It will eventually descend into poverty and violence.

[mohammadcheema]

This is where economics reaches its limit. We know the UK has low growth but the wealthiest are even richer every year - like clockwork. So growth isn’t the prime issue. It’s the distribution of wealth that is more important for ordinary people. Sadly “growth” has become an elite code word for “it’s your problem mate - not mine”.

[yesmarioo]

As a European, l can tell you the root cause of the UK issues are:
1) The two party political system that blocks the emergence of other ways of thinking and doing politics
2) Lack or decentralisation and local (town level) mayors. You cannot have nice towns without proper mayors. Most of Europe has city level mayors that stay in power if they do a good job or get booted out if they do a poor job.
3) Because of point 1, there is a lot of incompetence in city councils. You cannot have efficiency if the councillors have no fear of losing their job or have been on the same position for decades. Look at Manchester for example. Manchester has had the same faceless council for decades. You cannot have nice things when the people in power don’t care because they can’t be voted out.
4) Waste - l truly believe 25% of the UK budget is basically wasted and lost to inefficiencies in the NHS, education, etc.

Unfortunately the UK is the country where everything is 2x as expensive for half the quality you’d get in other countries.

[tonysilke]

This is not unique to Europe. It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.

[secondsrule]

I’ve arrived to the U.K. in 2003 as an architect and until 2008 it was a decent country to be in - at least I could see year to year things were improving for me. After 2008 I was never able to managed to make any significant savings despite not going out and living further and further away. In 2012, tired of ever increasing rents and moving a house each year, I’ve “purchased” a shared ownership property before learning what a scam it really is. The biggest mistake of my life - apart of coming to England in the first place but back then I could not find a job in my country. I’ve moved out from the U.K. as it was simply unaffordable to live in 2021 but I am still chained to “my” (not really) property which can’t be sold until the cladding issue is fixed. It still has not happened or even got started. There’s not even a date set for it. I’ve wasted almost 2 decades and came out with nothing but bitterness and sorrows and a debt which can’t be repaid. If you not rich or poor and on a dole this country will ruin you! For anyone who works honestly hard this is hell.

[RecklessBikesTV]

Left 5 years ago, never looked back. Nice to holiday to visit friends and family, get the reminder I made the 100% correct choice just by walking through any town or city centre.

[vitmart]

People in uk not living they existing
Constant stress of what next day post or email will bring ..

[LordBathtub]

I hate this country, I'd leave tomorrow if I could afford it. My entire life has been nothing but economic woe, wage stagnation and a constant transfer of money to the already wealthy. Its miserable here if you're not wealthy

[GIRUxGIRU]

Nothing quite like an economicshelpuk glum forecast to accompany me on this fine grey and soggy English morning.

[sinders]

I left UK and now live and work in Ecuador. It's pretty unbelievable how much better my quality of life is here, even in one of the most dangerous South American countries at the minute. My money goes so much further, the culture, nature and weather is better. I wouldn't be surprised if young people start to leave the UK on mass. There's no reason to stay anymore.

[edenjs]

Greed & corruption. Large companies own the government and the country is run more for their benefit than the people. While the country and people as a whole are feeling the economic pinch and becoming relatively poorer every year, the richest companies and people are wealthier. Finance is in the hands of the few to the detriment of the many. I moved abroad 25 years ago and enjoy a value for money, stress free life that the UK could never offer. I feel for the people of the UK.

[Witnessmoo]

Immigration last year wasn’t 700, 000, it was 1, 400, 000. But 700, 000 people left the country, including very skilled people like doctors etc. Dubai is full of high skill Brits.

Whereas the immigrants we got were low skills Delivwroo drivers etc.

We should never forget that economic growth is just people… the quality of people matters a lot.

[oatzman]

Short-terimism is what will destroy mankind.

[penn]

I live between Australia and the UK, on lower middle class wage. Australia is WAYYY better off than in the UK. True, Australian housing crisis is very real, but general standard of living is much higher in Australia. Theres a lot of self entitlement in the UK, such as being on benefits (much harder to get and maintain in Australia, they make you work even with serious disability, if you can use a phone or computer at all, for example), so much spending, and nothing coming in. The problem in the UK isnt just the politicians, its the culture and attitudes across the board - everyone complains, no one is willing to make the changes needed. Long term, UK is in big trouble.

[melvinpackham]

The difference between the Tories and Labour is that the Tories make no secret of their preference for improving the wealth of the richest people in society. In contrast, Labour hide the fact that they favour the rich over the majority of less well-off people. The end result is the same.

[OptimisticHominid]

It sounds to me like the UK would benefit from joining a large trading block with no trade barriers.

[rsacitizen]

I know some people that have left South Africa to work as nurses and teachers hoping to make more money in the UK but came back to South Africa with more debt and regreted going to the UK stating the high cost of living being the problem